Pune India, Jan. 10, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the Leather Tanning Chemicals market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the Leather Tanning Chemicals market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as Tanning Type, Application, and Region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Leather Tanning Chemicals market are BASF SE, Bayer AG, Balmer Lawrie Co. Ltd., Clariant International Ltd., Chemtan Company, TASA Group International, Dystar Singapore Pte Ltd., Elementis PLC, Lanxess AG, Texapel, Stahl International B.V, Schill Seilacher GmbH Co, Lawrence Industries Limited, Papertex Specialty Chemicals Pvt Ltd, Zschimmer Schwarz Co. KG, among others. To achieve a substantial market share in the worldwide Leather Tanning Chemicals market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Leather tanning has increased as a result of consumer demand for leather footwear, which is driving the market for leather chemicals. Additionally, the process of creating leather shoes, which require several chemicals for colouring and tanning, has been enhanced by leather tanneries. Furthermore, leather shoe imports have increased dramatically in a number of countries, including the US, Japan, Germany, France, and Italy. However, the use of chemicals in a number of processes prior to the tanning type of leather requires a lot of water, and waste emissions such heavy metals and phthalates can have a significant negative impact on the environment due to their high toxicity. Recently, the profit margins of large corporations have been impacted by a small number of market participants executing expansion strategies to enhance their positions in the leather chemicals sector. The demand for Leather Tanning Chemicals has been high in recent years, and it is anticipated that growth will continue in this direction over the forecast period. Because it uses less chemicals, such as acids and dyes, in the tanning type of leather that has been chrome tanned, chrome tanning is less expensive and time-consuming. Two further advantages of chrome-tanned leather that have a significant effect on the growth of the global market are the ability to create leather in large quantities in a single day and the potential for long-term colour preservation.
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Scope of Leather Tanning Chemicals Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Million |
| Segments Covered | Tanning Type, Application, and Region |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | BASF SE, Bayer AG, Balmer Lawrie Co. Ltd., Clariant International Ltd., Chemtan Company, TASA Group International, Dystar Singapore Pte Ltd., Elementis PLC, Lanxess AG, Texapel, Stahl International B.V, Schill Seilacher GmbH Co, Lawrence Industries Limited, Papertex Specialty Chemicals Pvt Ltd, Zschimmer Schwarz Co. KG, among others. |
Segmentation Analysis
Vegetable Leather Tanning are expected to be the fastest-growing segment in 2022.
The Tanning Type segment is Vegetable Leather Tanning, Chromium Leather Tanning, Aldehyde Leather Tanning, and Others. Vegetable Leather Tanning is expected to be the fastest-growing segment in 2022. They are rising in popularity as a result of the global movement toward sustainable development and continuous research in the area. Vegetable tanning uses no harmful chemicals while being a traditional technique. Vegetable tannins may be discovered naturally in a variety of plants by using the branches, leaves, bark, or even some fruits in particular techniques. Compared to other methods, this one is safer.
Automotive Accessories is expected to be the fastest-growing segment in 2022.
The application segment is Textile and Apparel Industry, Automotive Accessories, Furniture, and Others. Automotive Accessories is expected to be the fastest-growing segment in 2022. One of the main factors driving the growth of the leather tanning chemicals market is the increasing need for soft leather in the automotive industry. The tanning, beam housing, retaining, waterproofing, and aliquoting of such leathers need a sizeable amount of the leather chemicals.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for Leather Tanning Chemicals include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The Asia Pacific region witnessed a major share. A significant portion was seen in the Asia Pacific area. The leather tanning chemicals industry is expected to continue to be dominated by Asia Pacific. Due to the region's strong demand for more advanced leather chemical technologies and the rise of the textile, footwear, and automotive sectors, the leather tanning chemicals market is increasing throughout period.
Country Analysis
- Germany
Germany's Leather Tanning Chemicals market size was valued at USD 0.8 billion in 2022 and is expected to reach USD 1.0 billion by 2030, at a CAGR of 3% from 2023 to 2030. Germany is Europe's top exporter of leather goods due to their positions in the market for luxury goods.
- China
China’s Leather Tanning Chemicals market size was valued at USD 1.9 billion in 2022 and is expected to reach USD 2.3 billion by 2030, at a CAGR of 6.5% from 2023 to 2030.
China is anticipated to maintain its position as one of the top emerging countries due to factors such as the growing need for cutting-edge leather technology, the growth of the automotive sector, and the rise in the number of footwear industries.
- India
India's Leather Tanning Chemicals market size was valued at USD 0.7 billion in 2022 and is expected to reach USD 1.8 billion by 2030, at a CAGR of 2.5% from 2023 to 2030. India is anticipated to take the lead in the automobile sector. The textile industry is also growing in India, where the government is making significant investments.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven by the growing consumption of leather in the end-use sector.
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